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Re: *poor* Bogleheads

nebraskaman, Remember that it's not how much you make, but how much you spend which matters. I know people in so-called "high status" occupations who are in debt up to their eyes and then some. I also know ordinary folks who are retiring early comfortably because they lived below their mea...
by DTSC
Fri Apr 18, 2014 10:34 am
 
Forum: Forum Issues and Administration
Topic: *poor* Bogleheads
Replies: 78
Views: 5217

Re: Family Financial Health Check and Advice

Giving you a bump.

IMO, pay off the higher interest student loans, cc debt and fund retirement accounts before contributing to 529 plans. They will lend your kids money to go to school. No one will lend you money to retire.
by DTSC
Thu Apr 17, 2014 12:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Family Financial Health Check and Advice
Replies: 14
Views: 1195

Re: 401k Plan AUM fees

So what does your adviser do for their money? If you are using Employee Fiduciary, you might as well let your adviser go (aka make them redundant or fire them). +1. Get rid of the "adviser". Just copy the same choices as the Thrift Savings Plan for Federal employees. I've been trying to g...
by DTSC
Wed Apr 16, 2014 10:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401k Plan AUM fees
Replies: 9
Views: 419

Re: 401k Plan AUM fees

Look into these guys. http://employeefiduciary.com/ I looked into them when trying to get my employer to switch 401K record keepers. Looks like a good shop, especially for smaller companies. The sales person was not at all pushy. We did not switch to them due to political reasons though and I don't ...
by DTSC
Wed Apr 16, 2014 6:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401k Plan AUM fees
Replies: 9
Views: 419

Re: Life & Financial advice

First of all, thank for your thoughts! DTSC : I'm in a consulting type of job. Not horrible, but I do find it emotionally draining and in general a poor fit for my character. Switching from employee to self-employed improved this somewhat (which is why I did it) but i'm not tap dancing to work at a...
by DTSC
Tue Apr 15, 2014 4:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Life & Financial advice
Replies: 5
Views: 632

Re: Life & Financial advice

May I ask what business you're in, such that you can accumulate a portfolio of $800K at age 34, even without using your PhD? Is your job so horrible that you don't want to work a few years more so you have a bigger margin of safety before stopping work?
by DTSC
Tue Apr 15, 2014 2:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Life & Financial advice
Replies: 5
Views: 632

Re: The slackening...

My grandkids and I were at pizza last night when five girls (maybe 13-15 years old) came in. Ordered and drank lots (I mean lots) of coffee, then pop, and finally pizza. But what I was interested in was once the coffee came all five got out iPhones and never (and I mean never) talked after that. Fo...
by DTSC
Tue Apr 15, 2014 11:58 am
 
Forum: Personal Finance (Not Investing)
Topic: The slackening...
Replies: 57
Views: 5842

Re: The slackening...

I'm not aware of any scientific evidence that worrying, stress, suffering, trauma, or any other similar hardship has any beneficial effect on human beings. Quite the contrary. There's no reason to believe that any disappointing offspring of a wealthy person would have turned out better if they were...
by DTSC
Mon Apr 14, 2014 3:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: The slackening...
Replies: 57
Views: 5842

Re: The slackening...

snip My personal experience was that immigrant children do well in schools that have many other immigrant children, especially from Asia (China, Korea, India, etc.). The peer pressure complements the parental pressure and raises the performance of all students. Victoria I think the research shows t...
by DTSC
Mon Apr 14, 2014 11:51 am
 
Forum: Personal Finance (Not Investing)
Topic: The slackening...
Replies: 57
Views: 5842

Re: The slackening...

Very interesting thread. No one has yet mentioned "The Millionaire Next Door," which provides a slightly different take on this issue. A parent rises from immigrant or blue collar poverty to enormous but generally "hidden" wealth. This person's greatest goal is that (his) childr...
by DTSC
Mon Apr 14, 2014 11:48 am
 
Forum: Personal Finance (Not Investing)
Topic: The slackening...
Replies: 57
Views: 5842

Re: The slackening...

snip Are you going to subject your child to the sort of privations my father endured to make him more ambitious? I don't think so. It isn't necessary. You can have a perfectly good life without achieving fame or great wealth. In fact I think such a life is more likely to be happy and balanced than ...
by DTSC
Sun Apr 13, 2014 4:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: The slackening...
Replies: 57
Views: 5842

Re: The slackening...

There is a Chinese saying which goes something like: "Wealth doesn't get past 3 generations." Which probably sums up what you're talking about. Look at the families of the Robber Barons from the 1900's. How many of those heirs are nearly as successful as their ancestor. (Maybe they are su...
by DTSC
Sun Apr 13, 2014 3:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: The slackening...
Replies: 57
Views: 5842

Re: The slackening...

There is a Chinese saying which goes something like: "Wealth doesn't get past 3 generations." Which probably sums up what you're talking about. Look at the families of the Robber Barons from the 1900's. How many of those heirs are nearly as successful as their ancestor. (Maybe they are suc...
by DTSC
Sun Apr 13, 2014 12:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: The slackening...
Replies: 57
Views: 5842

Re: Use credit cards to pay rent: Amex Serve?

Even though I never use Amex Serve to pay rent, but I have been milking my Southwest Rapid Rewards Visa to fund Amex Serve (currently at 100,592 pts). You can also use Amazon Payment to milk some more CC reward pts monthly. My wife and I have been paying each other using CC's and immediately transf...
by DTSC
Sun Apr 13, 2014 12:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Use credit cards to pay rent: Amex Serve?
Replies: 56
Views: 3620

Re: Worth $1.6m but clueless on investments

Thank you for the pointers. Both of us have no 401K We are independent consultants working for ourselves. Will look into 401K solo. Don't forget to look into Traditional IRA contributions for 2013. Deadline is April 15, 2014. You can contribute and deduct 11K between the two of you if you are not c...
by DTSC
Sat Apr 12, 2014 3:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Worth $1.6m but clueless on investments
Replies: 15
Views: 3447

Re: A story, and a feeling of financial under-accomplishment

Should I get my masters degree? I would need to take 10 classes, which I'd take 5 per year, and it'd cost about 10 grand total. Absolutely, if you have the will to devote every spare moment for however long it takes! Do it while your other commitments are still low. That is such a bargain. Get your...
by DTSC
Sat Apr 12, 2014 11:17 am
 
Forum: Personal Finance (Not Investing)
Topic: A story, and a feeling of financial under-accomplishment
Replies: 48
Views: 4161

Re: A story, and a feeling of financial under-accomplishment

You've had some tough breaks and health problems too. Cut yourself some slack. The important fact is that you found this site. There is a lot of wisdom here. If you follow the advice given here, you Will do well in the long run. Remember that it's not how much you make but how much you spend
by DTSC
Thu Apr 10, 2014 8:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: A story, and a feeling of financial under-accomplishment
Replies: 48
Views: 4161

Re: Getting over huge mistakes

Many of us here have made big financial and/or investing errors too. You could have done worse and went 100% into Enron stock. Live and learn. You are still quite young. I didn't have positive net worth until well into my 40's. Just think of it as financial education tuition and move on.
by DTSC
Wed Apr 09, 2014 8:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Getting over huge mistakes
Replies: 30
Views: 3297

Re: Among Heroes and Villains

Thank you for your service protecting the country. In a way, what you're doing now is not too different - you are protecting a lot of investors from getting their savings destroyed (though by an internal foe).
by DTSC
Wed Apr 09, 2014 12:50 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: Among Heroes and Villains
Replies: 10
Views: 1125

Re: I'm 23. What else should I be doing financially? TIA.

You're doing great. I wish I was like you at age 23 (or 33 for that matter)
by DTSC
Wed Apr 09, 2014 11:59 am
 
Forum: Personal Finance (Not Investing)
Topic: I'm 23. What else should I be doing financially? TIA.
Replies: 10
Views: 1224

Re: Student Loans -- a surcharge on your job?

7.5% is pretty high interest at this point (compared to a 4% mortgage). I would pay it off ASAP. If you needed to go to college to get your job, then I would consider it the cost of doing business. Call it anything you want, pay it off. Think of paying it off as guaranteed "return on investment...
by DTSC
Sat Apr 05, 2014 12:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Student Loans -- a surcharge on your job?
Replies: 26
Views: 1601

Re: New Friends are the Anti-Bogleheads, what to do?

Keep your mouth shut, except when drinking the expensive wine that they will invariably buy!
by DTSC
Sun Mar 30, 2014 12:33 am
 
Forum: Personal Finance (Not Investing)
Topic: New Friends are the Anti-Bogleheads, what to do?
Replies: 93
Views: 8419

Re: Morgan Stanley A Big Mistake?

Please take some time (6-12 months) to learn how to invest your windfall before doing anything. It's perfectly OK to stick the $250K in an FDIC insured savings account for that long, rather than screwing it up. We don't know your entire picture, but it sounds like your health is not so great, such t...
by DTSC
Thu Mar 27, 2014 2:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: I Really Would Appreciate Your Advice!
Replies: 72
Views: 2703

Re: Options for the medical grad but no residency

I am a practicing physician. IMHO, an MD degree without finishing a residency - any residency - is a complete waste. To me, a large part of what makes completing a residency worthwhile is that it proves that you can cut it in terms of intelligence, knowledge, work ethic, stamina, and a whole host of...
by DTSC
Fri Mar 21, 2014 9:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Options for the medical grad but no residency
Replies: 95
Views: 7159

Re: Anyone experienced problems with Honda V-6 VCM engines?

I personally had a problem with it. 2008 Odyssey. Spark plug fouled up after about 25,000 miles and got replaced. Had problem with it again at about 45,000 miles. Fortunately, dealer got Honda to replace part of the engine at no cost to me.
by DTSC
Thu Mar 20, 2014 10:09 pm
 
Forum: Personal Consumer Issues
Topic: Anyone experienced problems with Honda V-6 VCM engines?
Replies: 36
Views: 1790

Re: Children: Are they worth every penny?

Since you asked...

Quit while you're ahead with 2 healthy kids. I can't imagine having a 17 year old when I'm 70 years old, much less an unhealthy child when I'm that age. Most people are grandparents, even great grandparents, at that age.
by DTSC
Wed Mar 19, 2014 3:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Children: Are they worth every penny?
Replies: 68
Views: 4597

Re: Need Help with MiL's Investment/Life Choices

Does she want your help? (In addition to giving her money)

If not, your attempt to intervene can just lead to bad feelings all around.
by DTSC
Mon Mar 10, 2014 5:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need Help with MiL's Investment/Life Choices
Replies: 57
Views: 3107

Re: Costco vs BJs vs Sams Club

We have had memberships at both Costco and Sam's Club, sometimes at the same time (such as after getting a Groupon deal which makes the Sam's Club membership essentially free). We live within walking distance from both stores. In general, much better customer service at Costco. As an example, severa...
by DTSC
Mon Mar 10, 2014 1:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Costco vs BJs vs Sams Club
Replies: 53
Views: 4010

Re: Money issues - people take me for granted

Honestly its been going on for a while. During grad school, someone borrowed from me to pay tuition from the money I had from internship. I need to fix myself. Dad always used to tell don't let people exploit you. Seriously consider talking to a therapist. If you don't get to the root of your lack ...
by DTSC
Sun Mar 09, 2014 8:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Money issues - people take me for granted
Replies: 74
Views: 4924

Re: Money issues - people take me for granted

IMHO, this is a psychological (don't take it the wrong way) issue presenting itself as a financial issue. Lending someone $20K and having them "forget" to pay it back? Letting people stay at your place, mess the place up, and then buy them food? Are you #$%@ing kidding me? The real issue i...
by DTSC
Sun Mar 09, 2014 6:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Money issues - people take me for granted
Replies: 74
Views: 4924

Re: Banning +1 in Boglehead forums

I don't have a problem with "+1". It's a quick way to show agreement.
by DTSC
Tue Mar 04, 2014 2:07 pm
 
Forum: Forum Issues and Administration
Topic: Banning +1 in Boglehead forums
Replies: 53
Views: 2174

Re: Would you retire like this?

Even if money is no issue at all, what would you do all day? Home school your children?
by DTSC
Sun Mar 02, 2014 11:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Would you retire like this?
Replies: 72
Views: 6723

Re: UPDATE: [physician, career options, life options]

Agree with working less now to extend career potentially. Not every physician has that option unfortunately. Seeing a therapist/psych as an MD is risky. Some medical boards and hospital credentialing applications ask about this. But wonder how they would find out if you paid cash? Perhaps a deposit...
by DTSC
Sat Mar 01, 2014 3:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: UPDATE: [physician, career options, life options]
Replies: 89
Views: 7932

Re: UPDATE: [physician, career options, life options]

I can relate. I've been in a similar rut. I'm in primary care, 12 years out of training. About 3.5 years ago, I hated going to work. I was over-committed at work. At home we had 3 young children, including (an unexpected) newborn. I had to study to re-certify for my Boards and then was hit with my f...
by DTSC
Sat Mar 01, 2014 3:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: UPDATE: [physician, career options, life options]
Replies: 89
Views: 7932

Re: Concerns re: Relocating to Illinois (Chicago)

+1 for Naperville in the far western suburbs (30 miles out) which is often in Money magazine's top 100 places to live. No one knows how the pension issues will play out. Regardless, Illinois is NOT a low tax state with 5% state income tax. Sales taxes in the suburbs are in the 7-8% range and exceed ...
by DTSC
Fri Feb 28, 2014 12:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Concerns re: Relocating to Illinois (Chicago)
Replies: 40
Views: 2692

Re: Advice on selecting medical school

If you want to go into academia, go to a famous school. If you don't, go to the cheapest school.

What do they call the guy who finishes last in the med school class? Doctor.
by DTSC
Thu Feb 27, 2014 10:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice on selecting medical school
Replies: 30
Views: 1795

Re: Car Seats: Leather or Cloth with Kids?

Leather is definitely if you find it affordable. However, you can save the money and buy new seat covers every year or two instead
by DTSC
Thu Feb 27, 2014 11:54 am
 
Forum: Personal Consumer Issues
Topic: Car Seats: Leather or Cloth with Kids?
Replies: 46
Views: 2243

Re: Things to do in St.Louis with a toddler

+1 for Grant's Farm. Free admission. Just $10 for parking but you get free beer. How can you beat that?
by DTSC
Mon Feb 24, 2014 5:10 pm
 
Forum: Personal Consumer Issues
Topic: Things to do in St.Louis with a toddler
Replies: 15
Views: 603

Re: Starting a Retirement Plan. SEP?

Based on my wife's experience, I believe solo 401K or SIMPLE IRA accounts must be opened before 12/31 of the tax year. i.e. 2013. So if you have not opened the account, SEP IRA might be the only option this year. However, you can open the other accounts for 2014
by DTSC
Mon Feb 17, 2014 8:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Starting a Retirement Plan. SEP?
Replies: 7
Views: 415

Re: New Book - White Coat Investor

I finished reading the book over the weekend. It is well written, concise, and covers all the important topics. My only small suggestion is to change the section title regarding the first few years out of residency from "Live like a resident" to "Remember you are still a low net worth...
by DTSC
Mon Feb 17, 2014 12:07 pm
 
Forum: Investing - Theory, News & General
Topic: New Book - White Coat Investor
Replies: 19
Views: 3035

Re: New Book - White Coat Investor

I bought kindle version. Will recommend to my younger and not so young colleagues. Good job!
by DTSC
Sun Feb 16, 2014 11:47 am
 
Forum: Investing - Theory, News & General
Topic: New Book - White Coat Investor
Replies: 19
Views: 3035

Re: Billing for annual physicals

Healthcare is the only industry I can think of where I have no idea what I'm paying for until after I received the care and then received the invoice. I rarely get the opportunity to say I don't want to purchase a portion of the care they want to push on me. It's a ridiculous system that definitely...
by DTSC
Fri Feb 14, 2014 1:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Re: Billing for annual physicals
Replies: 65
Views: 3640

Re: Billing for annual physicals

Indeed, to be sure it is coded as a physical, one can do what Kevin did: say everything is fine. The problem is that a physical has ZERO value, zero. Except for a review of things that are problematic, the routine exam is worthless except for a blood pressure check annually, a cholesterol value eve...
by DTSC
Fri Feb 14, 2014 1:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Re: Billing for annual physicals
Replies: 65
Views: 3640

Re: Billing for annual physicals

As a primary care doctor, this is how it works, at least in my practice. It's true that annual physicals are actually not recommended, at least not for everyone. For example, a normal weight 25 year old man with no family or personal history of anything, who doesn't smoke or drink too much, and exer...
by DTSC
Fri Feb 14, 2014 1:15 am
 
Forum: Personal Finance (Not Investing)
Topic: Re: Billing for annual physicals
Replies: 65
Views: 3640

Re: Billing for annual physicals

Indeed, to be sure it is coded as a physical, one can do what Kevin did: say everything is fine. The problem is that a physical has ZERO value, zero. Except for a review of things that are problematic, the routine exam is worthless except for a blood pressure check annually, a cholesterol value eve...
by DTSC
Fri Feb 14, 2014 12:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Re: Billing for annual physicals
Replies: 65
Views: 3640

Re: Where to invest after maxing out 401k, IRA, and HSA?

If you have children or plan to have children, or go back to school yourself, consider putting money in a 529 plan
by DTSC
Thu Feb 13, 2014 11:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where to invest after maxing out 401k, IRA, and HSA?
Replies: 18
Views: 2059

Re: $10+ M, age 49, seeking wisdom regarding retirement

I can only dream about being in your situation. How many people say "I wish I had worked more" on their deathbed?
by DTSC
Fri Feb 07, 2014 11:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: $10+ M, age 49, seeking wisdom regarding retirement
Replies: 58
Views: 7100

Re: Any less expensive sources for Lipitor?

If there is a Meijer Pharmacy near you, generic Atorvastatin is FREE there.
by DTSC
Fri Feb 07, 2014 11:34 pm
 
Forum: Personal Consumer Issues
Topic: Any less expensive sources for Lipitor?
Replies: 54
Views: 2835

Re: $25K Budget for a Fun Car

I thought a 2012 Mazdaspeed3 would be a fun car. Zoom-zoom and all that.
by DTSC
Thu Feb 06, 2014 5:03 pm
 
Forum: Personal Consumer Issues
Topic: $25K Budget for a Fun Car
Replies: 50
Views: 4354
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